Oil and Gas Law of the Kurdistan Region - Iraq No. (28) 2007

[jcfrag]

21 minutes ago, "Fred" said:

"Greed is the root to all evil"

Yeah, I know it seems to be what is standing between me and my own fortunes! 

["Fred"]

33 minutes ago, jcfrag said:

Yeah, I know it seems to be what is standing between me and my own fortunes! 

I'm with you,if this doesn't happen pretty soon I'm going to take another mortgage on the house for a new roof,windows ect,if this hits soon I'll just get a new house but I probably won't be home much.

[DoD]

4 hours ago, Theseus said:

Hate to be a Debbie Downer but this law was passed for the Kurdistan Region and the last paragraph explicitly states for the "Region". The "Region" is the Kurdistan Region. The history of the HCL has at one time been approved by GOI Parliamentary Cabinet in May 2007. Maliki shelved it in December 2007. Since Parliament of the Iraqi Government has never voted on the draft legislation which is completely different than the KRG legislation, the HCL has never passed much less voted on. The Iraqi Oil and Gas Law continues to reside at the Cabinet level due to the Maliki influence but was sent back to committee in December/January the year Abadi took office. 

Iraq has several oil producing regions. Kurdistan is only one of those regions, there are 8 to 9 more that the GOI has to contend with in addition to the whole of Iraq not just one "region".

Your not a Debbie Downer Theseus just presenting the facts. Kurdistan can vote on anything they want BUT if has anything to do with GOI (Baghdad) it has to be approved by them also. I have often said there are wayyyyy to many crooks in both governments to vote this law through an be implemented....

You are correct again about the HCL applying to more than the Kurdish area....

[Bama Girl]

6 hours ago, Theseus said:

Hate to be a Debbie Downer but this law was passed for the Kurdistan Region and the last paragraph explicitly states for the "Region". The "Region" is the Kurdistan Region. The history of the HCL has at one time been approved by GOI Parliamentary Cabinet in May 2007. Maliki shelved it in December 2007. Since Parliament of the Iraqi Government has never voted on the draft legislation which is completely different than the KRG legislation, the HCL has never passed much less voted on. The Iraqi Oil and Gas Law continues to reside at the Cabinet level due to the Maliki influence but was sent back to committee in December/January the year Abadi took office. 

Iraq has several oil producing regions. Kurdistan is only one of those regions, there are 8 to 9 more that the GOI has to contend with in addition to the whole of Iraq not just one "region".

Certainly not a Debbie Downer. We need to keep grounded during this ride and need posts such as yours that add clarity to our thinking and understanding. 👍

[Theseus]

7 hours ago, "Fred" said:

"Greed is the root to all evil"

This is a misquote from the bible. The actually quote from Paul is from 1 Timothy 6:9-10 "For the love of money is a root of all kinds of evil, and in their eagerness to be rich some have wandered away from the faith and pierced themselves with many pains." (NRSV Catholic Edition) 

I debated this long time ago on my high school debate team. I won the debate and the team won that tournament. 

[Theseus]

8 hours ago, jcfrag said:

The Kurdistan oil obviously belongs to only the Kurds.

Actually this is what the Kurds want you to think. However, according to the Iraq Federal Constitution Article 112 the oil in Iraq belongs to its citizens, which includes the Kurds. Since the Kurdistan Region portends to be semi-autonomous and their goal is to seek their own country made of bits from Turkey, Iran and Iraq, yes they believe the oil is theirs. However, KRG is a region in Iraq like Alaska is a state in the USA. The yearly budget negotiations is to give 17% of the proceeds from the sale of oil from the KRG back to the KRG is to run their government. Thus far, this does not include the individual parcelling of revenues to individual citizens. This is akin to Alaska getting money from the revenues from the oil as a state and then Alaskan citizens get a yearly stipend from the sale of oil from the entire United States produced (provided the USA did that and to which it does not). It is the Alaskan State government that chooses to give a stipend to its citizens from the sale of oil. Notice Alaska would be the Kurdistan Region and the USA would be the Iraq government. 

Edited December 18, 2016 by Theseus

[YukonJohn]

Great analogy Theseus, appreciate your input.

 

[jcfrag]

 

 

[jcfrag]

7 hours ago, "Fred" said:

I'm with you,if this doesn't happen pretty soon I'm going to take another mortgage on the house for a new roof,windows ect,if this hits soon I'll just get a new house but I probably won't be home much.

 

Edited December 18, 2016 by jcfrag
Delete

[jcfrag]

1 hour ago, Theseus said:

Actually this is what the Kurds want you to think. However, according to the Iraq Federal Constitution Article 112 the oil in Iraq belongs to its citizens, which includes the Kurds. Since the Kurdistan Region portends to be semi-autonomous and their goal is to seek their own country made of bits from Turkey, Iran and Iraq, yes they believe the oil is theirs. However, KRG is a region in Iraq like Alaska is a state in the USA. The yearly budget negotiations is to give 17% of the proceeds from the sale of oil from the KRG back to the KRG is to run their government. Thus far, this does not include the individual parcelling of revenues to individual citizens. This is akin to Alaska getting money from the revenues from the oil as a state and then Alaskan citizens get a yearly stipend from the sale of oil from the entire United States produced (provided the USA did that and to which it does not). It is the Alaskan State government that chooses to give a stipend to its citizens from the sale of oil. Notice Alaska would be the Kurdistan Region and the USA would be the Iraq government. 

I was being sarcastic....  all I was saying was if they want Baghdad to do everything for them, then they should send all of the oil to SOMO!